I was based there as a young reporter for the Philadelphia Inquirer, and Joe had just joined the paper as a local columnist. He had been dispatched to 212 to seek the wisdom of one Don McDonough, an Inquirer reporter who knew absolutely everyone in and everything about the city.
Although I first heard it used about basketball god Oscar Robertson, the phrase "more moves than a clock" applied--applies--to Dandy Don.
Room 212 was a wild place packed with colorful characters, and Joe, the author of The Selling of the President 1968 and Fatal Vision who died of cancer Monday at 71, made frequent visits. We quickly became friends.
As the new columnist in town, Joe came in like a wrecking ball. Philly had never seen anything like him. He could be funny and moving, but he could also be very tough. And he was everywhere. If there was big news, Joe was on the scene.
Top 10 India Stocks To Buy For 2015: Marriott International Inc (MAR)
Marriott International, Inc., incorporated on September 19, 1997, is a diversified hospitality company. It is a lodging company with more than 3,700 properties in 73 countries and territories. It operates in four business segments: North American Full-Service Lodging, which includes the Marriott Hotels & Resorts, Marriott Conference Centers, JW Marriott, Renaissance Hotels, Renaissance ClubSport, and Autograph Collection properties located in the United States and Canada; North American Limited-Service Lodging, which includes the Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, and Marriott ExecuStay properties located in the United States and Canada; International Lodging, which includes the Marriott Hotels & Resorts, JW Marriott, Renaissance Hotels, Autograph Collection, Courtyard, AC Hotels by Marriott, Fairfield Inn & Suites, Residence Inn, and Marriott Executive Apartments properties located outside the United States and Canada, and Luxury Lodging, which includes The Ritz-Carlton, Bulgari Hotels & Resorts, and EDITION properties worldwide (together with residential properties associated with some Ritz-Carlton hotels). In January 2014, the Company announced that it has sold its leasehold interests in the Renaissance Barcelona Hotel to an affiliate of the Qatar Armed Forces Investment Portfolio (QAFIP).
On November 21, 2011 (the spin-off date), the Company completed a spin-off of its timeshare operations and timeshare development business. Under license agreements with the Company, Marriott Vacations Worldwide Corporation (MVW) is the developer and operator of timeshare, fractional, and related products under the Marriott brand and the developer of fractional and related products under The Ritz-Carlton brand. The Company receives license fees under these licensing agreements. In April 2012, it opened the Renaissance Barcelona Hotel. In September 2012, its JW Marriott hotel brand has opened JW Marriott Essex House New York in New York City.
The Company is a worldwide operator, franchisor, and licensor of hotels, corporate housing properties, and timeshare properties under a number of brand names. The Company also operates, markets, and develops residential properties and provides services to home/condominium owner associations. As of December 31, 2011, the Company operated, franchised or licensed 3,718 lodging properties worldwide, with 643,196 rooms inclusive of 32 home and condominium products (3,838 units) for which it manages the related owners��associations. As of December 31, 2011, the Company provided 2,166 furnished corporate housing rental units. As of December 31, 2010, it operated 1,104 properties (284,868 rooms) under long-term management agreements with property owners, 45 properties (10,957 rooms) under long-term lease agreements with property owners, and five properties (986 rooms) as owned. During the year ended December 31, 2010, the Company bought one land parcel for hotel development and one hotel, and sold two limited-service properties, one full-service property and one land parcel. As of December 31, 2011, the Company had 24671 franchised properties (332,636 rooms), 85 unconsolidated joint venture properties (8,721 rooms), and 64 timeshare, fractional and related properties (12,800 units).
North American Full-Service Segment, North American Limited-Service Segment, International Segment Lodging Products
Marriott Hotels & Resorts is the Company�� global flagship brand, serving business and leisure upper-upscale travelers and meeting groups. Marriott Hotels & Resorts properties are located in downtown, urban, and suburban areas, near airports, and at resort locations. As of December 31, 2011, there were 492 Marriott Hotels & Resorts properties (178,854 rooms), excluding JW Marriott and Marriott Conference Centers. As of December 31, 2011, there were 10 Marriott Conference Centers (2,915 rooms) throughout the United States. JW Marriott is a global luxury brand made up of a collection o! f propert! ies and resorts. As of December 31, 2011, there were 53 properties (23,826 rooms) primarily located in gateway cities and upscale locations globally. Renaissance Hotels properties are located in downtown locations of major cities, in suburban office parks, near gateway airports, and in destination resorts. As of December 31, 2011, there were 154 Renaissance Hotels properties (52,966 rooms), including two Renaissance ClubSport properties (349 rooms).
The Autograph Collection consists of upper-upscale and luxury, independent hotels located in major cites. As of December 31, 2011, there were 27 Autograph Collection properties (6,105 rooms) operating in the United States.
During the year ended December 31, 2011, the Company entered into joint ventures with AC Hotels of Spain to create the AC Hotels by Marriott co-brand. AC Hotels typically contain 50 to 150 rooms and are located in destination, downtown, and suburban markets. As of December 31, 2011, there were 80 AC Hotels by Marriott properties (8,371 rooms) in Spain, Italy, and Portugal. Courtyard is the Company�� select-service hotel product for the upper-moderate price tier. The hotels typically contain 90 to 150 rooms in suburban locales and 140 to 340 rooms in downtown domestic and international locales. As of December 31, 2011, there were 913 Courtyards (134,719 rooms) operating in 37 countries and territories.
Fairfield Inn & Suites offers a range of amenities, including free in-room high-speed Internet access and free wireless fidelity (Wi-Fi) access in the lobby, on-site business services (copying, faxing, and printing), a business center/lobby computer with Internet access and print capability, continental breakfast buffet, The Market, exercise facilities, and a swimming pool. In addition, suite rooms provide guests with separate areas for sleeping, working, and relaxing, as well as in-room amenities, including a microwave and refrigerator. As of December 31, 2011, there were 431 Fairfield Inn & Suites propert! ies and 2! 49 Fairfield Inn properties operating in the United States, Canada, and Mexico. SpringHill Suites properties typically have 90 to 165 suites. The brand offers a broad range of amenities, including free in-room high-speed Internet access and free Wi-Fi access in the lobby, The Market (a self-serve food store open 24 hours a day), complimentary hot breakfast buffet, lobby computer and on-site business services (copying, faxing, and printing), exercise facilities, and a swimming pool. As of December 31, 2011, there were 285 properties (33,466 rooms) located in the United States and 2 properties (299 rooms) in Canada.
Residence Inn is North America�� hotel brand designed for business and leisure travelers staying five or more nights. As of December 31, 2011, there were 617 Residence Inn properties (74,867 rooms) located in the United States, Canada, Costa Rica, United Kingdom, and Germany. As of December 31, 2011, 193 TownePlace Suites properties (20,048 rooms) were located in 42 states. Marriott ExecuStay provides furnished corporate apartments for long-term stays nationwide. As of December 31, 2011, Marriott leased approximately 2,200 apartments and its 11 franchisees leased approximately 2,500 apartments. Apartments are located in 43 different markets in the United States, of which 34 are franchised. Marriott Executive Apartments provides temporary housing for business executives and others who need accommodations outside their home country, usually for 30 or more days. As of December 31, 2011, 20 Marriott Executive Apartments and two other Serviced Apartments properties (3,700 rooms total) were located in 16 countries and territories. All Marriott Executive Apartments are located outside the United States.
Luxury Segment Lodging Products
The Ritz-Carlton is a global luxury lifestyle brand, which consists of hotels and resorts. The Ritz-Carlton properties include spa and wellness facilities, restaurants, championship golf courses, and The Ritz-Carlton Club Level! . Through! a joint venture with jeweler and luxury goods designer Bulgari SpA, the Company operates the luxury hotel properties in prime locations under the name Bulgari Hotels & Resorts. As of December 31, 2011, it operated the Bulgari Milano Hotel (58 rooms), in Milan, Italy, and the Bulgari Bali Resort, which features 59 private villas, two restaurants, and comprehensive spa facilities. It also operates two restaurants in Tokyo, Japan, which are co-located with two Bulgari retail stores. The EDITION brand offers a lodging experience on a global scale.
Advisors' Opinion:- [By Daniela Pylypczak]
Marriott International, Inc. (MAR) announced on Tuesday that its Chief Operations Officer will retire early next year.
COO Robert J. McCarthy has worked for the hotel company for 38 years and was appointed to his current position in late 2011. In February of 2014, Marriott will give broader responsibilities to several other executives, who will oversee some of McCarthy’s prior responsibilities. Dave Grissen, Stephanie Linnartz, and Bruce Hoffmeister will all be given broader roles within the company.
Commenting on McCarthy’s retirement, President and CEO Arne Sorenson noted “I am tremendously enthusiastic about our future as these talented executives assume their new responsibilities, building on Bob’s legacy. We all wish Bob and his family the very best”.
Marriott shares traded 0.14% higher during Tuesday’s session. Year-to-date, the stock is up 10.85%.
Top 10 Diversified Bank Companies To Own In Right Now: Precision Drilling Corp (PDS)
Precision Drilling Corporation (Precision) is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada and the United States. The Company operates in two segments: Contract Drilling Services, and Completion and Production Services. In Canada, the Contract Drilling Services segment includes land drilling services, directional drilling services, procurement and distribution of oilfield supplies and the manufacture and refurbishment of drilling and service rig equipment, and the Completion and Production Services segment includes service rigs for well completion and workover services, snubbing services, camp and catering services, wastewater treatment services and the rental of oilfield surface equipment, tubulars, well control equipment and wellsite accommodations. Advisors' Opinion:- [By Lee Jackson]
Precision Drilling Corp. (NYSE: PDS) is Canada’s leading oilfield services firm, which provides contract drilling, well servicing and strategic support services to its customers. The company was formed as a private drilling contractor in the early 1950s and has grown on the back of fleet expansion and acquisitions, most notably the $2 billion purchase of Grey Wolf in 2008. The company pays investors a 2.1% dividend. The Jefferies price objective goes from $11 to $13. The consensus stands at $12.78. The stock closed Friday at $10.39.
Top 10 Diversified Bank Companies To Own In Right Now: Cosi Inc.(COSI)
Cosi, Inc. owns, operates, and franchises premium convenience dining restaurants. It offers squagels, sandwiches, hearth-baked quiches, oatmeal, salads, soups, appetizers, melts, flatbread pizzas, S?mores, fruit parfaits, wraps, and other desserts; coffees and other espresso-based beverages, seasonal fruit smoothies and specialty drinks, soft drinks, and flavored teas, as well as bottled beverages, such as still and sparkling waters. The company also sells alcoholic beverages comprising beer and wine. Its restaurants also offers catering service for the breakfast and lunch day parts, including breakfast baskets, lunch buffets, and dessert platters. As of August 26, 2011, it had 80 company-owned and 58 franchise restaurants in 17 states in the United States, the District of Columbia, and the United Arab Emirates. Cosi, Inc. was founded in 1994 and is based in Deerfield, Illinois.
Advisors' Opinion:- [By Peter Graham]
The Q1 2014 Potbelly Corp (NASDAQ: PBPB) earnings report is scheduled for after the market closes on Tuesday, May 6th, with investors and traders alike who follow either the sandwich restaurant chain stock (which debuted last October and is down some 44% for retail investors)�or who are into potential small cap peers like Cosi Inc (NASDAQ: COSI), Einstein Noah Restaurant Group, Inc (NASDAQ: BAGL) and Panera Bread Co (NASDAQ: PNRA) should be paying attention. Aside from the Potbelly Corp earnings report, it should be said that the Q1 2014 Panera Bread Co earnings report was last Tuesday while the�Q1 2014 Einstein Noah Restaurant Group, Inc earnings report came last Thursday and the the Q1 2014 Cosi Inc�earnings report is likely scheduled for Monday, May 12. However, Potbelly Corp has attracted a bit of attention for its potential growth trajectory as well as its�vision to be the ��eighborhood Sandwich Shop.��/p>
- [By Anna Prior]
Cosi Inc.(COSI) named Yum Brands Inc.(YUM) veteran Scott Carlock as the chief financial officer of the struggling sandwich chain.
Cloud-based software provider E2open Inc.'s(EOPN) loss widened in its fiscal first quarter as operating expenses continued to rise.
Top 10 Diversified Bank Companies To Own In Right Now: Ross Stores Inc.(ROST)
Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home accessories stores under the Ross Dress for Less and dd?s DISCOUNTS brand names in the United States. Its Ross Dress for Less brand stores sell brand and designer apparel, accessories, footwear, and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices; and dd?s DISCOUNTS brand stores sell apparel, accessories, footwear, and home fashions for the entire family at everyday savings of 20 to 70 percent off moderate department and discount store regular prices. As of January 29, 2011, the company operated 1,055 stores, of which 988 were Ross Dress for Less brand stores in 27 states and Guam, and 67 were dd?s DISCOUNTS brand stores in 6 states. Its Ross Dress for Less brand stores primarily target middle income households and dd?s DISCOUNTS brand stores target moderate income households. Ross Stores, Inc. was found ed in 1957 and is headquartered in Pleasanton, California.
Advisors' Opinion:- [By Ben Levisohn]
Shares of Lululemon (LULU) have dropped 8.9% this year, all the more impressive given the S&P 500′s 25% rise in 2013. Even worse, comparable stores Urban Outfitters (URBN), Ross Stores (ROST) and Guess? (GES) have all gained between 1.5% and 47% so far this year.
Top 10 Diversified Bank Companies To Own In Right Now: American Electric Power Company Inc (AEP)
American Electric Power Company, Inc. (AEP), incorporated on December 20, 1906, is a utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of AEP�� public utility subsidiaries cover portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. The generating and transmission facilities of AEP�� public utility subsidiaries are interconnected and their operations are coordinated. Transmission networks are interconnected with distribution facilities in the territories served. The public utility subsidiaries of AEP have provided electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. On December 31, 2011, Columbus Southern Power Company (CSPCo) merged with and into Ohio Power Company (OPCo) with OPCo being the surviving entity. In March 2012, the Company�� subsidiary, AEP Retail Energy acquired BlueStar Energy Holdings Inc. and its independent retail electric supplier BlueStar Energy Solutions.
Appalachian Power Company (APCo) is engaged in the generation, transmission and distribution of electric power to approximately 960,000 retail customers in the southwestern portion of Virginia and southern West Virginia, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. Among the principal industries served by APCo are paper, rubber, coal mining, textile mill products and stone, clay and glass products. In addition to its AEP System interconnections, APCo is interconnected with nonaffiliated utility companies: Carolina Power & Light Company, Duke Carolina and Virginia Electric and Power Company. APCo has several points of interconnection with Tennessee Valley Authority (TVA) and has entered into agreements with TVA under whic! h APCo and TVA interchange and transfer electric power over portions of their respective systems. APCo is a member of Pennsylvania - New Jersey - Maryland regional transmission organization (PJM).
Indiana Michigan Power Company (I&M) is engaged in the generation, transmission and distribution of electric power to approximately 582,000 retail customers in northern and eastern Indiana and southwestern Michigan, and in supplying and marketing electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities and other market participants. Among the principal industries served are primary metals, transportation equipment, electrical and electronic machinery, fabricated metal products, rubber and chemicals and allied products, rubber products and transportation equipment. In addition to its AEP System interconnections, I&M is interconnected with nonaffiliated utility companies: Central Illinois Public Service Company, Duke Ohio, Commonwealth Edison Company, Consumers Energy Company, Illinois Power Company, Indianapolis Power & Light Company, Louisville Gas and Electric Company, Northern Indiana Public Service Company, Duke Indiana and Richmond Power & Light Company. I&M is a member of PJM.
Kentucky Power Company (KPCo) is engaged in the generation, transmission and distribution of electric power to approximately 173,000 retail customers in an area in eastern Kentucky, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. Among the principal industries served are petroleum refining, coal mining and chemical production. In addition to its AEP System interconnections, KPCo is interconnected with nonaffiliated utility companies: Kentucky Utilities Company and East Kentucky Power Cooperative Inc. KPCo is also interconnected with TVA. KPCo is a member of PJM. Kingsport Power Company (KGPCo) provides electric service to approximately 47,000 retail customers in K! ingsport ! and eight neighboring communities in northeastern Tennessee. KGPCo does not own any generating facilities and is a member of PJM. It purchases electric power from APCo for distribution to its customers.
OPCo is engaged in the generation, transmission and distribution of electric power to approximately 1,460,000 retail customers in Ohio, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities and other market participants. Among the principal industries served by OPCo are primary metals, chemicals and allied products, health services, electronic machinery, petroleum refining, and rubber and plastic products. In addition to its AEP System interconnections, OPCo is interconnected with nonaffiliated utility companies: Duke Ohio, The Cleveland Electric Illuminating Company, Dayton Power and Light Company, Duquesne Light Company, Kentucky Utilities Company, Monongahela Power Company, Ohio Edison Company, The Toledo Edison Company and West Penn Power Company. OPCo is a member of PJM.
Public Service Company of Oklahoma (PSO) is engaged in the generation, transmission and distribution of electric power to approximately 532,000 retail customers in eastern and southwestern Oklahoma, and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric cooperatives and other market participants. Among the principal industries served by PSO are paper manufacturing and timber products, natural gas and oil extraction, transportation, non-metallic mineral production, oil refining and steel processing. In addition to its AEP System interconnections, PSO is interconnected with Empire District Electric Company, Oklahoma Gas and Electric Company, Southwestern Public Service Company and Westar Energy, Inc. PSO is a member of Southwest Power Pool regional transmission organization (SPP).
Southwestern Electric Power Company (SWEPCo) is engaged in the generation, transmission an! d distrib! ution of electric power to approximately 521,000 retail customers in northeastern and panhandle of Texas, northwestern Louisiana and western Arkansas and in supplying and marketing electric power at wholesale to other electric utility companies, municipalities, rural electric cooperatives and other market participants. Among the principal industries served by SWEPCo are natural gas and oil production, petroleum refining, manufacturing of pulp and paper, chemicals, food processing, and metal refining. The territory served by SWEPCo also includes several military installations, colleges and universities. SWEPCo also owns and operates a lignite coal mining operation. In addition to its AEP System interconnections, SWEPCo is interconnected with Central Louisiana Electric Company (CLECO), Empire District Electric Company, Entergy Corp. and Oklahoma Gas & Electric Company. SWEPCo is a member of SPP.
AEP Texas Central Company (TCC) is engaged in the transmission and distribution of electric power to approximately 787,000 retail customers through REPs in southern Texas. TCC has sold all of its generation assets. Among the principal industries served by TCC are chemical and petroleum refining, chemicals and allied products, oil and gas extraction, food processing, metal refining, plastics and machinery equipment. In addition to its AEP System interconnections, TCC is a member of Electric Reliability Council of Texas regional transmission organization (ERCOT). AEP Texas North Company (TNC) is engaged in the transmission and distribution of electric power to approximately 186,000 retail customers through REPs in west and central Texas. TNC�� generating capacity has been transferred to an affiliate at TNC�� cost pursuant to an agreement effective through 2027. Among the principal industries served by TNC are petroleum refining, agriculture and the manufacturing or processing of cotton seed products, oil products, precision and consumer metal products, meat products and gypsum products. The territor! y served ! by TNC also includes several military installations and correctional facilities. In addition to its AEP System interconnections, TNC is a member of ERCOT.
Wheeling Power Company (WPCo) provides electric service to approximately 41,000 retail customers in northern West Virginia. WPCo does not own any generating facilities. WPCo is a member of PJM. It purchases electric power from OPCo for distribution to its customers. AEP Generating Company (AEGCo) is an electric generating company. AEGCo sells power at wholesale to OPCo, I&M and KPCo. AEP also owns a service company subsidiary, American Electric Power Service Corporation (AEPSC).
Utility Operations
Utility operations constitute most of AEP�� business operations. Utility operations include the generation, transmission and distribution of electric power to retail customers and the supplying and marketing of electric power at wholesale (through the electric generation function) to other electric utility companies, municipalities and other market participants. AEPSC, as agent for AEP�� public utility subsidiaries, performs marketing, generation dispatch, fuel procurement and power-related risk management and trading activities.
Electric Generation
As of December 31, 2011, AEP�� public utility subsidiaries owned or leased approximately 37,000 MW of domestic generation. AEP�� public utility subsidiaries procure coal and lignite under a combination of purchasing arrangements including long-term contracts, affiliate operations and spot agreements with various producers and coal trading firms. Through its public utility subsidiaries, as of December 31, 2011, AEP owned, leased or controlled more than 7,600 railcars, 634 barges, 16 towboats and a coal handling terminal with 18 million tons of annual capacity to move and store coal for use in its generating facilities. Through its public utility subsidiaries, AEP consumed nearly 167 billion cubic feet of natural gas, during the year ended Dec! ember 31,! 2011, for generating power. The Unit Power Agreement between AEGCo and I&M provides for the sale by AEGCo to I&M of all the capacity (and the energy associated therewith) available to AEGCo at the Rockport Plant. The Unit Power Agreement between AEGCo and OPCo provides for the sale by AEGCo to OPCo of all the capacity and associated unit contingent energy and ancillary services available to OPCo from the Lawrenceburg Plant.
Electric Transmission and Distribution
AEP�� public utility subsidiaries (other than AEGCo) own and operate transmission and distribution lines and other facilities to deliver electric power. Most of the transmission and distribution services are sold, in combination with electric power, to retail customers of AEP�� public utility subsidiaries in their service territories. AEP�� public utility subsidiaries (other than AEGCo) hold franchises or other rights to provide electric service in various municipalities and regions in their service areas. In some cases, these franchises provide the utility with the right to provide electric service. In addition to providing transmission services in connection with their own power sales, AEP�� public utility subsidiaries through RTOs also provide transmission services for non-affiliated companies. AEP�� System Transmission Integration Agreement provides for the integration and coordination of the planning, operation and maintenance of the transmission facilities of AEP East and AEP West companies.
Transmission Operations
AEP Transmission Company, LLC (AEP Transco), a subsidiary of AEP, has seven wholly-owned transmission companies, geographically aligned with its existing operating companies. These transmission companies will develop and own new transmission assets that are physically connected to AEP�� system. The transmission companies have been approved in Indiana, Michigan, Ohio and Oklahoma. AEPSC and other AEP subsidiaries provide services to the transmission companies throug! h service! agreements. The Company has established joint ventures with other incumbent electric utility companies for the purpose of developing, building and owning Extra High Voltage (EHV) transmission lines in North America. Its joint venture, Electric Transmission Texas, LLC (ETT), was established to construct, fund, own and operate electric transmission assets within ERCOT, including transmission projects in the Competitive Renewable Energy Zone (CREZ). Business services for the joint ventures are provided by AEPSC and the joint venture partner entity.
AEP River Operations
The Company�� AEP River Operations Segment transports coal and dry bulk commodities primarily on the Ohio, Illinois and lower Mississippi rivers. Almost all of its customers are nonaffiliated third parties who obtain the transport of coal and dry bulk commodities for various uses. AEP�� affiliated utility customers procure the transport of coal for use as fuel in their respective generating plants. AEP River Operations includes approximately 2,600 barges, 45 towboats and 25 harbor boats that it owns or leases.
Generation and Marketing
The Company�� Generation and Marketing Segment consists of non-utility generating assets and a power supply and energy trading and marketing business. It enters into short and long-term transactions to buy or sell capacity, energy and ancillary services primarily in the ERCOT market, and to a lesser extent Ohio in PJM and MISO. As of December 31, 2011, the assets utilized in this segment included approximately 310 megawatt of Company-owned domestic wind power facilities, 177 megawatt of domestic wind power from long-term purchase power agreements and 377 megawatt of coal-fired capacity which was obtained through an agreement effective through 2027 that transfers TNC�� interest in the Oklaunion power station to AEP Energy Partners, Inc. The power obtained from the Oklaunion power station is marketed and sold in ERCOT.
Advisors' Opinion:- [By Jake L'Ecuyer]
Top decliners in the sector American Electric Power Co (NYSE: AEP), down 2.5 percent, and FirstEnergy (NYSE: FE), off 2.5 percent.
Top Headline
On Sunday, AT&T (NYSE: T) announced its plans to buy DirecTV (NASDAQ: DTV) for $48.5 billion, or $95 per share in a combination of stock and cash. The offer price of $95 per DirecTV share represents a 10 percent premium to closing price of $86.18 on Friday. The deal has a total value of $67.1 billion, including DirecTV's net debt. - [By Justin Loiseau]
American Electric Power (NYSE: AEP ) is one of the largest utilities around, with a total generation capacity just shy of 38,000 MW. Coal clocks in at 66% of the company's total capacity, creating plenty of potential for cheap generation. But similar to Southern, 22% of the utility's generation originates from natural gas and oil. American's 3.8% dividend yield is the lowest of the bunch, but the dividend stock has pushed up its payouts 14.6% in the past five years.
- [By Justin Loiseau]
After upping its dividend earlier in the week, American Electric Power (NYSE: AEP ) reported earnings on Friday, beating sales estimates and matching earnings expectations. Lackluster industrial demand and impending deregulation in Ohio are trouble spots for the utility, but overall rate increases and new transmission agreements mean that sustainable income isn't gone yet.
Top 10 Diversified Bank Companies To Own In Right Now: Ardonblue Ventures Inc (ARB)
Ardonblue Ventures Inc., formerly August Metal Corporation, is a Canada-based company engaged in the business of acquiring, exploring and evaluating mineral resource properties. Las Lajas Project consists of approximately seven contiguous mining concessions and is located in Southern Sonora State, Mexico. The concessions are owned by Minera Goldzone SA de CV a wholly owned subsidiary of Goldzone Exploration Inc. Las Lajas has access and infrastructure as it is located approximately 15 kilometers north of the city of Navojoa. The Thurlow Property occupies the central part of the Doratha Morton gold trend, located on British Columbia�� southwestern coast near Phillips Arm. The Property consists of approximately nine crown granted mineral claims covering a total of approximately 142.61hectares. Advisors' Opinion:- [By Rich Duprey]
International media and marketing shop Arbitron� (NYSE: ARB ) �announced yesterday�its second-quarter dividend of $0.10 per share, the same rate it's always paid since 2005
Top 10 Diversified Bank Companies To Own In Right Now: Great Northern Iron Ore Properties (GNI)
Great Northern Iron Ore Properties, a conventional nonvoting trust, owns and leases mineral and non-mineral properties on the Mesabi Iron Range in northeastern Minnesota. It owns mineral interests on the Mesabi Iron Range formation that represent 12,033 acres, including approximately 9,895 acres are under lease and 2,138 acres are unleased. The company was founded in 1906 and is based in Saint Paul, Minnesota.
Advisors' Opinion:- [By Aaron Levitt]
PrairieSky won�� actually be drilling for oil or natural gas on its properties, nor will it be transporting it through pipelines. That’s because a�royalty trust is an entity�that own the production rights on oil wells, natural gas fields or, as in the case of Great Northern Iron Ore Properties (GNI),�iron ore mines.
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